Alliance Benefit Group Adopts Newkirk's Roth 401k Solutions
ALBANY, NY, December 8, 2005 -- Newkirk, a leading provider of communication solutions for qualified plan providers, and MasteryPOINT, a Newkirk technological subsidiary, today announced that Alliance Benefit Group has adopted its Roth 401k education solutions to help educate plan sponsors and plan participants about the new Roth contribution option.
"We've had tremendous interest in our family of Roth communication solutions since we first rolled them out in August," said Peter Newkirk, President of Newkirk. "We regard ABG as an industry leader among TPAs, so their early adoption of our Roth 401k overview booklet and Roth 401k Analyzer for their sponsors and participants is evidence that we've hit the nail on the head with these materials."
"Educating sponsors and participants about the Roth option is going to be a challenge," said ABG's John Blossom, President. "We were looking for solutions that make a complex subject understandable. We also wanted something that's immediately available, presents the subject professionally, and is affordable. The Newkirk/MasteryPOINT products satisfied those criteria."
Newkirk's Roth solutions include:
- A booklet designed for distribution by providers to plan sponsors.-in a question-and-answer format, the booklet is customized with the provider's name and can be adapted to include the provider's own text.
- An interactive Internet analyzer-The Roth 401k Analyzer includes an education module, a calculator that allows participants to compare the tax treatment and other implications of a Roth versus pretax contributions, and a gap analysis tool that enables participants to see the big picture.
- Participant-level Roth announcement-These 4-page communications not only announce the availability of the Roth option and explain its consequences, but also encourage participants to review their retirement planning in general through personal illustrations and suggestions.
- Plan-level Roth announcements
- Posters
- Payroll stuffers
"We've also modified all of our enrollment systems to reflect the Roth option," added Newkirk, "and we're offering online educational courses for provider field reps through our McKay Hochman subsidiary. We think we have a comprehensive communication solution."
About Newkirk/MasteryPOINT
For over 30 years, Newkirk has developed creative solutions to communication issues faced by financial institutions, professional firms, and managed care organizations. MasteryPOINT is a Newkirk subsidiary that is the technological core of Newkirk Participant Investor Services. For more information, visit www.newkirk.com or call 800-525-4237.
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